Mayor de Blasio, yesterday, announced he would introduce legislation to fine owners of up to 14,500 commercial and residential buildings over 25,000 square feet if they don’t meet energy conservation goals by 2030. Details are not yet available.
Meanwhile, beginning next winter, heating oil in Westchester, Nassau and Suffolk counties will have to contain at least five percent biodiesel under legislation signed Wednesday by Governor Cuomo.
The Governor also signed a bill requiring every board member of a co-op or condo in the State to file an annual statement, beginning in 2018, indicating whether or not they voted on any contracts with related parties.
DHCR issued a new Fact Sheet this week on discrimination against foreign born tenants, including, for example, that “ An owner who only requests background information and proof of citizenship status from individuals of South Asian origin and not all others will be in violation of the law.”
The New York Times analysis of Tuesday’s primary elections began: “If voters sent any discernible messages in the contested Democratic primaries for New York City Council, they were that gentrification is bad…”
We’re not the only ones with crazy politicians. The Newark City Council last week responded to a tenant initiative by reducing the amount of rent increase an owner could get from improvements to a vacant apartment costing one year’s rent to 10 percent, vs. the previous 20% for an expenditure equal to eight months’ rent.
The National Apartment Association has published its annual survey of apartment operating expenses. Not surprisingly, the average cost nationally of property taxes on a mid to high rise apartment in 2016 was $1653—about half what it is in New York. The median cost to income ratio nationally for mid to high rise units was about 46%, vs. around 64% in New York.